Ulaanbaatar
“1 Tugrug” Commemorative Coin Now on the Market
Economy
Ulaanbaatar, June 3, 2025 /MONTSAME/. In commemoration of the centenary of the introduction of the national currency “tugrug” into circulation, the Bank of Mongolia has released a commemorative coin bearing the denomination “1 tugrug,” minted in one ounce of gold and silver, for sale.
On December 9, 1925, Mongolia issued into circulation a silver coin with a purity of 900 and a weight of 18 grams bearing the denomination “1 tugrug,” along with seven types of paper currency. To commemorate this historical milestone, the “1 tugrug” commemorative coin has been minted using modern smart-minting and high-relief technology, cast in 999.9 fine silver and gold, weighing one ounce (31.1 grams) and measuring 33 mm in diameter. On this occasion, the Bank of Mongolia has opened a new exhibition hall aimed at educating children and youth about monetary currency. The exhibit features equipment used in the production of banknotes, printing plates, coins, security elements of currency, gold weights, and historical artefacts, including the 1925 issue of the “Truth” newspaper.
The history of legal tender in Mongolia traces its origins to the era of the Mongol Empire, during which gold, silver, and copper coins were issued by the Mongol Khaans. Currency equivalents such as tea and sycees, which reflect the intellectual and material culture of the 17th to early 20th centuries, were also widely used. In 1912, under the decree of Bogd Khaan, a six-month state loan named “Baga Bolzoot” was issued, functioning as currency until 1923. Furthermore, the People’s Government printed the Mongolian dollar, known as the “Danzan Dollar,” in 1921 and 1922.
The Bank of Mongolia underscored that national currency is a symbol of a country’s customs, pride, and development, and that it plays a crucial role in the history of financial and payment systems.
